Another downgrade! Now we know why an ore reserve has not been announced before. At the current iron ore price WDR only has 5 years of reserves. What happened to the 10 year lifetime for the DSO operation. Given that only just over 30% of the mineral resource has converted into ore reserves, is there any guarantee that the ore reserve will be upgraded - not likely IMHO. Much of the "future" ore resources are too deep to be ever mined. My only hope is that we won't go the same way as our near competitor Sherwin Iron!
WDR Price at posting:
24.5¢ Sentiment: Hold Disclosure: Held
